Elections & terms
inauguration
The start of the presidential term at noon on January 20, when the President-elect takes the constitutionally prescribed oath.
In full
The Twentieth Amendment fixed the handoff: congressional terms begin January 3, presidential terms at noon on January 20. The Constitution prescribes the President's 35-word oath verbatim; the Chief Justice administers it by tradition, not requirement. Until that moment the incumbent holds full power, however the election went.
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A plain-language explanation for civic education, not legal advice. When in doubt, the official source named above controls.